Closing bell
The Sensex surged over 261 points and the Nifty crossed the 10,600-mark on heavy buying in oil & gas, metal, infrastructure and auto stocks amid firm global cues.
Brokers said that strong recovery in the rupee against the dollar and unabated buying by domestic institutional investors aided the uptrend.
The 30-share BSE Sensex opened on a strong footing at 34,753.47 and maintained its upward trend to hit the day’s high of 35,017.93. It finally ended at 34,924.87, up 261.76 points, or 0.76 per cent.The index had rallied 318.20 points in the previous session.
The Nifty finished the day at 10,605.15, showing a hefty gain of 91.30 points, or 0.87 per cent, after shuttling between 10,628.05 and 10,524.
On a weekly basis, the Sensex scored a moderate gain of 76.57 points or 0.22 per cent, while the Nifty rose 8.75 points or 0.08 per cent.
Sensex gainers, losers
As per provisional data, domestic institutional investors had net bought equities worth Rs 789.78 crore, while foreign portfolio investors sold shares to the tune of Rs 311.11 crore yesterday.
India Cements results
India Cements has reported a 2.88 per cent rise in standalone net profit at Rs 35.27 crore for the quarter ended on March 31, 2018, against Rs 34.28 crore in the January-March quarter a year ago. More on this
IDBI Bank net loss widens
IDBI Bank's net loss widened to Rs 5,662.76 crore in the quarter ended March 2018 due to higher provisioning for non-performing assets. Read more
Indian economy is strong: CII
As the BJP-led NDA government completes four years in office, the Confederation of Indian Industry says that India’s economy is robust with GST system having settled down and reforms firmly on the right path. Click here to read more
Make the most of the surplus in savings account
After SBI’s unkind cut in savings deposit rate last year, most banks followed suit. This was the first time banks chose to tinker with the rates after interest on savings accounts was deregulated in 2011. Click here to read more
Outlook on oil prices
For India that imports more than 80 per cent of its crude oil requirement, the past year has not been a good one on energy pricing. Global oil price (Brent) and, along with it, the price of the Indian crude oil basket has rallied more than 70 per cent since mid-June last year — from about $45 a barrel to almost $80 now. Click here to read more
Gateway Distriparks to buy Blackstone stake
Container logistics firm Gateway Distriparks will acquire global private equity major Blackstone’s entire shareholding in its freight company Gateway Rail Freight for Rs 810 crore. More on this
The Sensex surged over 300 points and the Nifty was trading above the 10,600 mark on heavy buying in oil & gas, metal, infrastructure and auto stocks amid mixed global cues.
The BSE index was trading higher by 308.07 points or 0.89 per cent at 34,971.18 and the NSE index up 102.85 points or 0.99 per cent at 10,617.50.
Strengthening of rupee against the dollar and unabated buying by DIIs propped up the domestic sentiment.
Sensex gainers, losers
Barring consumer durables, all other BSE sectoral indices were trading in the positive zone.
TCS m-cap surges past Rs 7 lakh cr mark
Tata Consultancy Services’ market valuation surged past the Rs 7 lakh crore mark today, making it the first company to achieve this milestone. Buoyed by a rally in its share price, the market valuation of TCS jumped to Rs 7,03,309 crore in intraday session on the BSE. Read more
HDFC Short Term Opportunities Fund
If you are a conservative investor and do not wish to take interest-rate risk, you could invest in HDFC Short Term Opportunities Fund which runs an average maturity of 1.5-1.7 years, thus mitigating interest-rate risk. The fund has delivered 8.6 per cent annualised return since its inception in 2010. Click here to read more
ICICI Prudential MIP 25 Fund
A new category, as per the SEBI directive, called Conservative Hybrid Fund, is suitable for investors with a medium-risk profile wanting some equity exposure. The funds under the category invest 10-25 per cent of their total assets in equity, and the rest in debt instruments. Click here to read more
Pidilite Industries hits record high
Shares of Pidilite Industries Ltd jumped as much as 5.25 per cent to Rs 1,137, its highest-ever. The stock posted its biggest intraday percentage gain since December 2017. More on this
The Sensex was trading higher by over 210 points on heavy buying in oil & gas, infrastructure, auto and metal stocks amid mixed global cues. Unabated buying by DIIs propped up the domestic sentiment.
The BSE index was up 213.15 points or 0.61 per cent at 34,876.26 and the NSE index up 71 points or 0.68 per cent at 10,584.85.
NSE gainers, losers
NSE sectoral indices
IT stocks such as Infosys Ltd and Tata Consultancy Services Ltd extending gains for a second day as the rupee hovered near a 16-month low against the dollar.
Short positions in the Indian rupee hit their highest level in nine months, a Reuters poll showed last week, with sentiment soured by rising oil prices which will add to the country's already widening trade deficit.
“Over last couple of weeks, shares were volatile because of the Karnataka state elections. But now, markets have somewhat stabilised and IT stocks are attractive because of the weak rupee,” said Pritesh Thakkar, Equity Research Associate at KR Choksey Investment Managers.
MCX posts over 2-month intraday gain
Shares of Multi Commodity Exchange surged on report of merger with NSE. MCX shares jumped as much as 8 per cent to Rs 775s, their biggest daily percentage gain in over 2 months. More on this
Nifty 50 May Futures (10,561)
Traders with high risk appetite can go long at current levels. Stop-loss can be placed at 10,535 for the target of 10,610. Revise the stop-loss higher to 10,570 as soon as the contract moves up to 10,580. Click here to read more
United Spirits zooms over 7%
Shares of United Spirits rallied on March-quarter results. The stock jumped as much as 7.1 per cent to Rs 3,340.95, highest in a fortnight. Read more
United Breweries hits record high
Shares of United Breweries jumped to a record high on strong Q4 results. The stock jumped as much as 7.6 per cent to a record high of Rs 1,570. Read more
IFCI recovers Rs 280 cr from Bhushan Steel
IFCI has recovered Rs 280.30 crore and has been allotted over 5.79 lakh equity shares of debt-ridden Bhushan Steel, which has been acquired by Tata Steel, under the insolvency process. More on this
GAIL (India) jumps nearly 4%
GAIL (India) shares jumped as much as 3.7 per cent to Rs 321.1, biggest intraday percentage gain since May 7 on Q4 results. Read more
Yen slips from 2-week high
The yen stepped back from a two-week high against the dollar as North Korea said it was open to resolving issues with the United States after President Donald Trump called off a June summit with its leader, Kim Jong Un. Click here to read more
Crude oil dips
Brent crude futures were at $78.69 per barrel at 0208 GMT, down 10 cents from their last close, and more than 2.2 per cent below the $80.50 November 2014 high they reached on May 17. Read more
Rupee strengthens to 68.15
The rupee strengthened to 68.15 against the dollar on increased selling of the greenback by exporters and banks amid a firm domestic equity market. More on this
Asian markets
MSCI's broadest index of Asia-Pacific shares outside Japan was almost flat, while South Korea's Kospi pared much of its earlier loss of 0.9 per cent. Japan's Nikkei was up 0.1 per cent. Click here to read more
N. Korea still open to talks with US
North Korea today said it was still willing to talk to the US after President Donald Trump cancelled a summit between the two countries, a decision Pyongyang described as “extremely regrettable”. Read more
The Sensex was trading higher by over 180 points, extending yesterday’s rally, due to robust buying in IT, TECk and infrastructure stocks and unabated purchases by domestic institutional investors.
The BSE index was up 183.81 points or 0.53 per cent at 34,846.92 and the NSE index up 54.45 points or 0.52 per cent at 10,568.30.
All BSE sectoral indices were trading in the positive zone.
Major Sensex gainers were Tata Steel, Infosys, HUL, Hero MotoCorp and TCS, while the top five losers were SBI, ITC, Coal India, Asian Paints and HDFC.
Gold: Overall picture bullish, shaky in the near term
Comex gold futures pulled back from recent lows. As mentioned in the previous update after the break of $,1301-05, the trend in the near-term is shaky and this zone could potentially cap upside attempts in the week ahead. Click here to read more
Is India’s gold rush coming to an end?
Five years ago, any sign of weakness in the rupee would have been the cue for RBI officials, Ministers and sundry economic commentators to lash out at Indian households for their unreasonable and unpatriotic love for gold. And it is true that gold imports had a big role to play in India’s yawning trade deficit and precarious balance of payments position in 2013. Click here to read more
GIC India board meet
The board of directors of General Insurance Corporation of India will meet today to consider the audited financial results (standalone and consolidated) for the quarter/year ended March 31, 2018. More on this
What to watch
Tech Mahindra, BoB, Sun Pharma results are among over 130 firms that will declare their results today. Read more
The Sensex was trading higher by nearly 170 points, extending yesterday’s rally, due to robust buying in IT, TECk and infrastructure stocks and unabated purchases by domestic institutional investors.
The BSE index was up 169.76 points or 0.49 per cent at 34,832.87 and the NSE index up 50.35 points or 0.48 per cent at 10,564.20.
Barring FMCG, all other BSE sectoral indices were trading in the positive zone.
Top five Sensex gainers were Tata Steel, Tata Motors, Infosys, TCS and NTPC, while the major losers were ITC, State Bank of India, Coal India, Asian Paints and Adani Ports.
As per provisional data, domestic institutional investors had bought shares worth Rs 1,480.51, while foreign portfolio investors sold shares worth Rs 701.93 crore yesterday.
Minda Corporation has raised ₹310 crore through a qualified institutional placement of shares. International and domestic institutional investors participated in the issue. More on this
Broker's call
Centrum Broking
Cipla (Buy)
CMP: ₹532.1
Target: ₹730
WhatsApp leak case
SEBI has zeroed in on two individuals who may have knowledge of perpetrators in the case relating to leak and circulation of sensitive financial details of a few companies and banks via WhatsApp. Click here to read more
Performance of PSU stocks under Modi govt
Under four years of Modi government, public sector companies, led by banks, have suffered the most. The Nifty PSU Bank index is undoubtedly the biggest loser with negative returns of 24 per cent over the last four years, thanks to lack of meaningful resolution of non-performing assets. Click here to read more
Day Trading Guide
₹1985 • HDFC Bank
S1 | S2 | R1 | R2 | COMMENT |
1973 | 1960 | 1995 | 2010 | Fresh long positions can be initiated with a tight stop-loss only if the stock moves beyond ₹1995 levels |
₹1221 • Infosys
S1 | S2 | R1 | R2 | COMMENT |
1210 | 1200 | 1230 | 1240 | Near-term outlook is bullish for the stock of Infosys. Buy the stock in declines with fixed stop-loss at ₹1210 levels |
₹274 • ITC
S1 | S2 | R1 | R2 | COMMENT |
272 | 268 | 277 | 280 | Make use on of intra-day rallies to sell the stock of ITC while maintaining a stiff stop-loss at ₹277 levels |
Click here to view the full guide
9.15 am
The 30-share BSE index Sensex opened higher by 75.57 points at 34,738.68 against 34,663.11 and the 50-share NSE index Nifty rose 23.55 points at 10,537.40 against 10,513.85.
9.05 am
Today's stock pick
Sobha (₹545.9): Buy
The stock of Sobha has jumped 5.5 per cent with above average on Thursday, breaching its 21- and 50-day moving averages decisively. Investors with a short-term view can consider buying the stock at current levels as the bullish momentum is picking up. Click here to read more